Aspen records highest home sale of year

A Chicago billionaire paid $31.5 million for a home in Aspen, the most paid for a residential property at the tony resort this year.

The buyers broker, Steven Shane of SDS Real Estate, declined to disclose the name of his client. However, The Wall Street Journal reported today that the buyer is Chris Reyes, who with his brother Jude, heads Reyes Holdings, a privately held food- and beer-distributor company in the Chicago area with $12 billion in sales.

The seven-bedroom, nine-bath home sits on 44 acres at 2435 W. Buttermilk Road. It has a 720-square-foot three-car garage and a 560-square-foot guest house with a two-car garage. There also is a 4,769-square-foot barn.

“What makes this property so unique is that you just don’t get 44 acres 10 to 15 minutes from downtown Aspen,” Shane said. “It’s a true legacy estate to provide pleasure not only to the current buyer but his children and their children for years to come.”

Shane said the sale is a signal that Aspen’s high-end market is turning around.

“The other aspects of the market are still a little soft, although there are people who understand that prices have come down approximately 30 percent and are taking advantage of buying opportunities,” he said. “I don’t know if you would call things affordable, but they’re more affordable than they were.”